Debt ceiling: Timeline of deal's development
August 2nd, 2011
07:52 PM ET
3 years ago

Debt ceiling: Timeline of deal's development

Washington (CNN) - President Barack Obama on Tuesday signed a compromise plan raising the nation's $14.3 trillion debt ceiling, averting what could have been an unprecedented national default.

Obama's signature came hours after the U.S. Senate passed the plan on a 74-26 vote. The U.S. House passed the package a day earlier on a 269-161 vote, overcoming opposition from liberal Democrats and tea party conservatives.

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Filed under: Debt • Deficit • President Obama
soundoff (2 Responses)
  1. Canuck

    President Obama is such a disappointment. He seems incapable of standing up for the very people who got him elected.
    Meanwhile the Republicans are exposed as merely greedy – big suprise there. I am pretty sue that God never told Michele Bachmann that she should scew the poor.

    August 2, 2011 09:07 pm at 9:07 pm |
  2. Not that bad of a deal.

    Here's the deal Pres.Obama got $2.4 trillion now to keep the gov't running and the GOP/Tea Party got cuts down the road. I'll take that deal. Increase revenue is comimg. We have to reform out tax code to start to rebuild America.

    August 2, 2011 11:44 pm at 11:44 pm |